Financials: June Bonds are currently 11 higher at 146'21, 10 Yr. Notes 7.5 higher at 123'03 and 5 Yr. Notes 3.75 higher at 115'06. Earlier in the week yield on the 30 yr. Bond traded at 3.0%, up from recent lows of under 2.90%, before backing off to the current 2.975%. The 10 Yr. Note yield also rallied , finding resistance at 2.6%. The yield curve between the 2Yr. and 5 Yr. Notes has inverted with the 2 Yr. yielding 0.01% more than the 5 Yr. Pressure from the White House could keep rates steady to lower for the near future despite the Fed's independence. For the interim I will only look for trades at market extremes. I will be a buyer in Bonds below 144'15 and a seller above 149'15.
Grains: July Corn is currently 0'4 higher at 367'4, Beans 2'2 higher at 894'6 and Wheat 4'0 lower at 445'6. With only 5% of Crops planted I am going to suggest that farmers will be planting fencepost to fencepost, keeping me negative. I will be a seller on any significant rallies.
Cattle: Live and Feeder Cattle have rallied significantly in the 2 months that I have been recovering from recent surgery. Beef demand has been brisk and competing Hog prices have rallied due to diseased hogs, particularly in China. I feel these markets are overbought but not willing to risk very much. I am going long the June 116 put/short the 114put spread for 40 points ($160) or better. Currently at 27.5 points ($110).
Silver: May Silver is currently 3 cents higher at 14.97. I remain long.
S&P's: June S&P's are 3.25 higher at 2903.75, close to record highs in the 2922.00 area. Treat as a trading affair between 2883.00 and 2918.00. Today's release of the Muller Report will probably dominate the trade.
Currencies: AS of this writing the June Euro is 52lower at 1.13015, the Yen 13.5 higher at 0.89790, the Pound 29 lower at 1.3047 and the Dollar Index 35.2 higher at 97.010. I'm a seller in the Dollar Index above 97.00.
Futures and options trading involves substantial risk of loss and may not be suitable for everyone. The valuation of futures and options may fluctuate and as a result, clients may lose more than their original investment. In no event should the content of this website be construed as an express or implied promise, guarantee, or implication by or from The Price Futures Group, Inc. that you will profit or that losses can or will be limited whatsoever. Past performance is not indicative of future results. Information provided on this website is intended solely for informative purpose and is obtained from sources believed to be reliable. No guarantee of any kind is implied or possible where projections of future conditions are attempted.